Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV) Stock Crosses Below Fifty Day Moving Average - Here's Why

Key Points

• NPV shares fell below their 50-day moving average, trading as low as $9.70 and last changing hands at $9.71, compared with a 50-day average of $9.91 and a 200-day average of $10.84.
• The fund announced a monthly dividend of $0.0615 per share, equivalent to approximately $0.74 annually and a 7.6% yield.
• Institutional investors and hedge funds own 11.68% of NPV, while recent activity included new positions and increased holdings from several firms. The closed-end fund invests primarily in Virginia municipal bonds to generate tax-exempt income.

Nuveen Virginia Quality Municipal Income Fund (NYSE:NPV - Get Free Report) shares passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $9.91 and traded as low as $9.70. Nuveen Virginia Quality Municipal Income Fund shares last traded at $9.71, with a volume of 70,078 shares traded.

Nuveen Virginia Quality Municipal Income Fund Stock Up 0.4%

The stock has a 50 day simple moving average of $9.91 and a 200 day simple moving average of $10.84.

Nuveen Virginia Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be given a $0.0615 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.74 annualized dividend and a yield of 7.6%.

Hedge Funds Weigh In On Nuveen Virginia Quality Municipal Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Nuveen Virginia Quality Municipal Income Fund during the second quarter worth about $29,000. Cetera Investment Advisers increased its holdings in shares of Nuveen Virginia Quality Municipal Income Fund by 8.8% in the 1st quarter. Cetera Investment Advisers now owns 11,327 shares of the financial services provider's stock worth $128,000 after acquiring an additional 917 shares during the period. Maloon Powers Pitre Higgins & Dennehy LLC acquired a new stake in shares of Nuveen Virginia Quality Municipal Income Fund in the 2nd quarter worth about $213,000. D.A. Davidson & CO. lifted its position in Nuveen Virginia Quality Municipal Income Fund by 7.1% in the 1st quarter. D.A. Davidson & CO. now owns 19,089 shares of the financial services provider's stock valued at $216,000 after purchasing an additional 1,272 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Nuveen Virginia Quality Municipal Income Fund by 5.0% in the 1st quarter. Royal Bank of Canada now owns 26,514 shares of the financial services provider's stock valued at $300,000 after purchasing an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 11.68% of the company's stock.

About Nuveen Virginia Quality Municipal Income Fund

Nuveen Virginia Quality Municipal Income Fund NYSE: NPV is a closed-end investment fund managed by Nuveen, an asset manager specializing in income-oriented investment strategies. The fund seeks to provide current income that is exempt from regular federal income tax and Virginia personal income tax, while also pursuing the preservation of capital.

The fund invests primarily in municipal bonds and other municipal obligations issued by or on behalf of the Commonwealth of Virginia, its local governments, and related public entities.

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